French regulator AMF blacklists only two crypto websites in the whole year

Financial regulators successful France proceed flagging illicit players connected the overseas speech (forex) and cryptocurrency markets, blacklisting a caller batch of related websites.

The French banal markets regulator, the Autorité des Marchés Financiers (AMF), and the Prudential Supervision and Resolution Authority (ACPR), connected Dec. 21, updated a blacklist of websites identified arsenic unauthorized investments successful forex and crypto assets.

Out of the 15 newly-blacklisted websites, lone 2 sites connote a nonstop transportation with crypto successful their name. These websites see 24cryptoforextrading.net and cryptoneyx.io.

According to the announcement, the AMF and ACPR person flagged importantly less crypto-related websites year-over-year. In 2022, the authorities blacklisted a full of 2 websites successful the crypto derivatives category, down 92% from 24 sites past year.

In contrast, the regulators added a full of 49 names to the database of sites that are not authorized to connection forex investments, versus 61 of specified websites successful 2021.

The AMF and ACPR urged investors to beryllium cautious and guarantee that intermediaries offering fiscal products oregon services are authorized to run successful France. The regulators noted that investors should consult with the authoritative registry of authorized concern work providers and the database of authorized intermediaries successful the fiscal concern advisor oregon crowdfunding categories.

A important alteration successful the magnitude of crypto-related websites flagged by the AMF successful 2022 whitethorn seemingly beryllium attributed to the ongoing cryptocurrency winter. Since 2021, the cryptocurrency marketplace has shrunk more than 70% since November 2021, causing monolithic losses for crypto investors.

The AMF property bureau did not instantly respond to Cointelegraph’s petition for comment.

Related: France whitethorn oblige crypto platforms to get licenses

As antecedently reported, the French authorities is known for its affable stance connected the integer plus industry, issuing aggregate approvals to large planetary cryptocurrency firms. In May, the AMF issued registration to large planetary crypto speech Binance, officially allowing the steadfast to supply crypto-related services successful France.